UFPI Diversifies Further, Acquiring T&R Lumber & Subsidiaries
Originally published by: GlobeNewswire — July 14, 2020
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Editor's Note: The article below outlines another recent acquisition by Universal Forest Products, as it strives to further diversify its business holdings. For a company that built its brand on distributing lumber products and structural components, this expansion to over 170 affiliated operations servicing the retail, construction and industrial markets is a continuing case study for any component manufacturing operation looking to grow.
UFP Industries today announced that one of its affiliates acquired the operating assets of T&R Lumber Company and its affiliates, Sullivan & Mann and Kelmar Creations. Based in Rancho Cucamonga, California, T&R manufactures and distributes a range of products used primarily by nurseries, including plastic growing containers, pots and trays; wooden stakes; trellises; tree boxes; shipping racks; and other nursery supplies. The company had approximately $31 million in sales in 2019 and will become an affiliate of the UFP Industrial business segment. Phil Guardia, president of T&R, will continue to run the company.
“From the first meeting, we knew UFP Industries was a perfect fit for us, with the right team for our company and mutual goals,” said Phil. “Their family culture and team approach are exactly how we have operated our companies. We can now expand our regional success across UFP’s national footprint.”
“We’re excited by this opportunity. T&R has a strong leadership team and solid track record of growth with new and existing products,” said Scott Worthington, president of the UFP Industrial business segment. “We look forward to harnessing their expertise to grow our agricultural product offerings and customer base at UFP affiliates across the country.”
“Our new organizational structure is creating more opportunity to focus on new products and individual markets, and the addition of T&R allows us to continue to expand our portfolio of value-added offerings to agricultural customers,” said UFP Industries CEO Matthew J. Missad. “We welcome T&R to our dynamic and growing team!”